What you need to know before the open
A positive open for European markets this morning, following the impressive rallies seen yesterday.
The FTSE hit a 14-year high yesterday, with European stocks hitting six-year highs.
M&A activity buoyed sentiment, as speculation over monetary stimulus from the European Central Bank grew on dovish comments from Ewald Nowotny, Austria’s central banker.
Corporate news
Pfizer has said it remains disappointed by the “lack of engagement” of AstraZeneca’s board when it comes to considering the potential for combining the two drugs companies.
EasyJet has reported a 44 per cent jump in business travellers over the past year, as the popularity of allocated seating continues to grow.
Heathrow’s said it’ll offer £550m to compensate for the building of a third runway, with 750 homeowners offered 25 per cent above the market value for their properties, which would need to be demolished.
And Paddy Power has announced that its chief executive Patrick Kennedy is to step down in April of next year. Kennedy has headed the bookmaker since 2006.
Key events:
- 10.00am: EU May Zew survey
- 10.00am: EU May Zew survey
- 1.30pm: US April import and export indices
- 1.30pm: US April retail sales
- 3.00pm: US March business inventories